Q: tax related question
we’re starting a company we’re gonna have about five trucks are going to need to gas every day we’re going to sign up for a special fuel card that makes us enter the mileage and the truck number I need to fuel. Do we need to have individual receipts when we file our taxes or do we need to hold onto them. Also what’s the book and page number that they’re referring to this rule about.
A: If by using your fuel card the data is saved someplace you can access (a monthly statement, or a web site, for example) you probably don't need to keep your receipts. But just in case, ask whoever prepares your taxes.
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